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Types Of Bank Loans

deciding what type of loan you need can be a little overwhelming because bank loans come in many shapes and sizes. Here are different types of bank loans: Fixed rate: Fixed rate loans are among the most common consumer loans. Fixedrate loans keep the same interest rate throughout the life of the loan. The interest […]

Banks Advance N21.3tn Loans In 10 Months

Banks Advance N21.3tn Loans In 10 Months

The total domestic credit from the banking sector to the economy dropped by 0.8 per cent to N21.3tn as of the end of October 2015, statistics obtained from the Central Bank of Nigeria have revealed. The CBN in its economic report for October stated that the drop in credit to the economy was a reflection […]

Group Urges EFCC To Investigate CBN’s $7bn Loan To Bankers

Group Urges EFCC To Investigate CBN’s $7bn Loan To Bankers

The Civil Society Network Against Corruption, CSNAC, has urged the Economic and Financial Crimes Commission, EFCC, to investigate a Central Bank of Nigeria, CBN, soft loan of $7 billion granted to a consortium of bankers in 2006. In a petition sent to the anti-graft agency and signed by the coalition’s chairman, Olanrewaju Suraju, CSNAC stated […]

FG Loans $3.5bn From W’Bank And AfDB

FG Loans $3.5bn From W’Bank And AfDB

The Federal Government is seeking from the World Bank and the African Development Bank the sum of $3.5bn (N697bn) in emergency loans to fill a growing gap in its budget in the latest sign of the economic damage being wrought on oil-rich nations by tumbling crude prices. The $2.5bn (N498bn) loan from the World Bank […]

Maritime Microfinance Bank Loans MSMEs With N201m

Maritime Microfinance Bank Loans MSMEs With N201m

The Maritime Microfinance Bank Limited has earmarked N201m for disbursement as loans to Micro Small and Medium Enterprises in 2016. A statement by the bank said while N120m would be disbursed as micro loans, N81m would be disbursed by the bank as the SME loans. Acting Managing Director of the bank, Mr. Oluwaseyi Hamilton, said […]

Mortgage Bank To Provide Loans To Workers In Sokoto – HOS

Mortgage Bank To Provide Loans To Workers In Sokoto – HOS

Alhaji Bature Shinkafi, the Head of the Civil Service ( HOS), Sokoto State, says the service is working with the Federal Mortgage Bank to provide Housing Renovation Loan for 300 workers. Shinkafi made this known in Sokoto on Friday while addressing newsmen on efforts by the state government to alleviate the accommodation problems of workers […]

AfDB Creates $300m Loan Facility To Assist Women In Agri-Business

AfDB Creates $300m Loan Facility To Assist Women In Agri-Business

African Development Bank (AfDB) has created 300 million US dollar financing facility to fund African women in agri-business to accelerate agriculture within the next 12 months, the October Newsletter Edition of the AfDB disclosed on Friday in Abuja. The Newsletter quoted the President, AfDB, Dr Akinwumi Adesina, as announcing the decision during the bank’s conference… […]

Microfinance Banks And Their N80bn Loans

NICON Insurance Limited and the National Association of Microfinance Banks have formed a synergy to bail out 940 microfinance banks and their over six million customers from bad loans estimated at over N80bn. The National President of NAMB, Mr. Valentine Whensu, who stated that the micro finance sub-sector had recorded not less than N80bn as […]

World Bank Defends $75m Loan To Edo State

World Bank Defends $75m Loan To Edo State

The World Bank has defended its $75 million loan to Edo State Government, saying it grants significant funding only to governments it trusts would use the funds judiciously to achieve its development results. Speaking on Wednesday at a three-day retreat for members of the State Executive Council and Permanent Secretaries holding at the Transcorp Hilton […]

Nigeria, Others To Access $100bn World Bank Loan On Emission Reduction

Nigeria, Others To Access $100bn World Bank Loan On Emission Reduction

The World Bank Group and other multilateral development finance institutions have assured the developing countries, including Nigeria, that they could access another $100 billion in carbon credit funding assistance to help them further mitigate the consequences of rising climate change in their various jurisdictions. The World Bank President, Jim Kim Yong, raised the hopes of […]

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